Wed, May 28, 2008 - Page 12 News List

Consumer confidence falls this month

STAFF WRITER, WITH CNA

Consumer confidence declined significantly this month as consumer prices continued to rise, a monthly survey released yesterday by the National Central University's Research Center for Taiwan's Economic Development showed.

The consumer confidence index for the month stood at 61.30, down 7.18 points, or 10.48 percent, from last month’s level.

All six of the sub-indices dropped this month, with most registering below 100, a range that is indicative of pessimism.

Figures released earlier this month by the Directorate General of Budget, Accounting and Statistics showed that the consumer price index rose 3.86 percent year-on-year last month and 3.65 percent year-on-year for the first four months of this year.

The survey showed the largest decrease among the sub-indices was for projected stock market investing over the next six months, which lost 17.70 points to 71.

The TAIEX has gained about 3.2 percent since the beginning of the year, but has had trouble remaining above the symbolic 9,000 point barrier, which would indicate rising confidence. The market closed at 8,778.39 yesterday.

The sub-index with the second largest decrease was in domestic economic outlook over the next six months, which was down 12.2 points to 46.85.

The sub-index for projected family finances over the next six months dropped 6.70 points to 48.45.

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